Indexation of cost of improvement for shares of pvt ltd. com
This query is : Resolved
18 June 2016
Mr. X had purchased shares of pvt. ltd. company in F.Y. 2000-01 which was partly paid up. Paid up value was Rs. 8 per share and face value was Rs. 10 per share. On 31.01.2015 the company called the last call and the call money was paid by Mr. X to the company on 31.01.2015. Now Mr. X has sold his shares to Mr. Y on 17.06.2016.
My question is whether the call money paid by Mr. X will form part of cost of improvement while calculating long term capital gain on such shares?
My question is whether the call money paid by Mr. X will form part of cost of improvement while calculating long term capital gain on such shares?
18 June 2016
No it will be still cost of acquisition. COA shall be Rs.10 and should be indexed from 2001. Cost is not based on cash basis.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- Income Type for interest from government bonds
- TCS ON SOFTWARE SALES
- Not a CA , can we prepare balance sheet
- Valuation of diamonds as on 01.04.2001
- What is meaning of merging of expenses or income in accounts
- Accounting treatment of write off sundry debtors
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
